(Rewrites lead paragraph; adds analyst comment, byline)
By Chelsea Emery
NEW YORK, Feb 19 (Reuters) - Shares of Corinthian Colleges Inc (COCO.O: Quote, Profile, Research, Stock Buzz) jumped 13 percent Tuesday on speculation that Washington Post Co's (WPO.N: Quote, Profile, Research, Stock Buzz) recent purchase of an 8.1 percent stake in the for-profit education company signals plans by the media group to buy Corinthian.
In a regulatory filing on Feb. 15, Washington Post said it had acquired 6.89 million Corinthian shares because they represented "an attractive investment opportunity."
"We believe Washington Post will use this holding to enter talks with Corinthian," wrote Deutsche Bank analyst Paul Ginocchio in a note to clients.
Washington Post representative Jay Morse said in response to speculation that "it's an investment," adding the company was not commenting further.
Washington Post operates post-secondary schools through its Kaplan Higher Education division, which serves more than 75,000 students at about 70 schools in the United States and Europe.
Washington Post, which also owns The Washington Post newspaper as well as cable television systems, made a series of share purchases from Jan. 22 through Feb. 14, according to the filing.
Corinthian shares rose $1.06, or 13.73 percent, to close at $8.78 on Nasdaq. Through Friday, the shares had tumbled 50 percent this year on worries that the U.S. credit crunch will make it tough for students to get education loans, hurting enrollment and profits at education companies.
Washington Post shares slipped 0.39 percent to $736.00 on the New York Stock Exchange.
"We think (the) 8.1 stake in Corinthian Colleges likely goes higher," Ginocchio wrote. "Washington Post holding a minority position does not make sense to us." (Reporting by Chelsea Emery; editing by John Wallace, Richard Chang)
Source: http://www.reuters.com
Subscribe Now: Feed Icon
Monday, August 11, 2008
AgFeed Earnings Soar, Berkshire Earnings Fall
11:30AM New York – Berkshire Hathaway reported its quarterly profit decline in a row. AgFeed quarterly earnings surged.
AgFeed Industries, Inc, a Chinese animal feed maker and pork producer reported second quarter revenues increased 417% to $35.64 million from $6.09 million a year ago. Net income in the quarter rose 62% to $3.9 million or 12 cents per diluted share compared to net income of $1.5 million or 6 cents per share, a year ago.
AgFeed Industries, Inc (FEED: chart) in the last one year traded as high as $21.31 in May 2008 and as low as $6.40 in September 2007. Based on the Friday’s trading closing price the company has a market cap of $454.40 million.
Berkshire Hathaway Inc, a holding company reported second quarter net income in the quarter dropped 7.6% to $2.88 billion compared to net income of $3.12 billion, a year ago.
Berkshire Hathaway Inc ((BRK.A)) in the last one year traded as high as $151,650 in December 2007 and as low as $109,800 in August 2007. Based on the Friday’s trading closing price the company has a market cap of $181.21 billion.
Calpine Corporation, power producer reported second quarter revenues jumped 37% to $2.83 billion from $2.06 billion a year ago. Net income in the quarter was $197 million or 41 cents per diluted share compared to net loss of $500 million or $1.04 per share, a year ago.
Calpine Corporation (CPN: chart) in the last one year traded as high as $23.36 in June 2008 and as low as $15.38 in August 2008. Based on the Friday’s trading closing price the company has a market cap of $6.92 billion.
StockWatch © quotemedia.com
Symbol Last Tick Chg % Chg Open High Low Volume
FEED 13.78 1.22 9.71% 14.99 15.00 13.56 1.4 m
BRK.A 117950.01 2200.01 1.90% 115400.00 118350.00 115110.00 949
CPN 16.5101 0.5201 3.25% 17.05 17.25 16.40 4.08 m
AgFeed Industries, Inc, a Chinese animal feed maker and pork producer reported second quarter revenues increased 417% to $35.64 million from $6.09 million a year ago. Net income in the quarter rose 62% to $3.9 million or 12 cents per diluted share compared to net income of $1.5 million or 6 cents per share, a year ago.
AgFeed Industries, Inc (FEED: chart) in the last one year traded as high as $21.31 in May 2008 and as low as $6.40 in September 2007. Based on the Friday’s trading closing price the company has a market cap of $454.40 million.
Berkshire Hathaway Inc, a holding company reported second quarter net income in the quarter dropped 7.6% to $2.88 billion compared to net income of $3.12 billion, a year ago.
Berkshire Hathaway Inc ((BRK.A)) in the last one year traded as high as $151,650 in December 2007 and as low as $109,800 in August 2007. Based on the Friday’s trading closing price the company has a market cap of $181.21 billion.
Calpine Corporation, power producer reported second quarter revenues jumped 37% to $2.83 billion from $2.06 billion a year ago. Net income in the quarter was $197 million or 41 cents per diluted share compared to net loss of $500 million or $1.04 per share, a year ago.
Calpine Corporation (CPN: chart) in the last one year traded as high as $23.36 in June 2008 and as low as $15.38 in August 2008. Based on the Friday’s trading closing price the company has a market cap of $6.92 billion.
StockWatch © quotemedia.com
Symbol Last Tick Chg % Chg Open High Low Volume
FEED 13.78 1.22 9.71% 14.99 15.00 13.56 1.4 m
BRK.A 117950.01 2200.01 1.90% 115400.00 118350.00 115110.00 949
CPN 16.5101 0.5201 3.25% 17.05 17.25 16.40 4.08 m
Subscribe to:
Posts (Atom)
